Tax Laws Amendment (2007 Measures No. 2) Act 2007 (78 of 2007)
Schedule 8 Venture capital
Part 1 Venture capital limited partnerships
Income Tax Assessment Act 1997
43 After subsection 118-425(12)
Insert:
Exception to requirements relating to location within Australia
(12A) A company is taken to meet the requirements of subsection (2) in relation to an investment made by an entity if the sum of:
(a) the value of the investment at the time the entity makes it; and
(b) the total value of all the other investments that the entity owns at that time that do not, or apart from this subsection would not, meet those requirements;
does not exceed 20% of the partnerships *committed capital.
Note: See subsection (10) for the value of investments.